CIBC partners with Toronto Pearson to offer 'first class' banking experience at Canada's largest airport

Multi-year deal will see CIBC become exclusive Financial Institution sponsor of the Airport

TORONTO, Dec. 5, 2013 /CNW/ - CIBC (CM: TSX) (CM: NYSE) and the Greater Toronto Airports Authority (GTAA) are proud to announce an innovative new partnership focused on enhancing the travel experience for the more than 35 million passengers that pass through Canada's largest airport every year.

The multi-year partnership, which establishes CIBC as the GTAA's exclusive Financial Institution sponsor, is part of CIBC's continued commitment to providing Canadians with innovative banking solutions.

"CIBC is excited to partner with the GTAA in its efforts to enhance the travel experience for passengers at Canada's largest Airport, including providing financial services," said Stephen Forbes, Executive Vice President, CIBC. "The reality is, most people now spend a couple of hours at the Airport before their flight. Having the ability to take care of your financial needs at Toronto Pearson is another example of how, as a CIBC client, you can bank where, how and when you want."

"This partnership with CIBC shows that we are willing to work with outstanding Canadian and international brands with the objective of adding value for passengers and employees," said Howard Eng, President and CEO at the GTAA. "The GTAA and CIBC are both showing their commitment to improved customer service and in-terminal amenities. We believe that this partnership with CIBC will generate new and innovative ways to serve passengers and employees throughout the Airport.  Through this collaborative relationship, two great companies will enhance their collective customers' experiences."

Under the partnership, CIBC clients and travellers at large will benefit from having access to financial services through Airport branches, ABMs, mobile / online banking and marquee activation areas throughout the Airport. These special areas are designed to address the needs of business travellers, newcomers and families with kids.

"We've all had the experience of making a last minute visit to the bank before a trip - whether it's to pay a bill, get cash or travel insurance, or complete other banking transactions," added Mr. Forbes. "Through this partnership, travellers will now have the flexibility to meet all of these needs at the Airport through CIBC."

Toronto Pearson employees, who are critical to the operation of Toronto Pearson, are a priority to the GTAA. To align with the GTAA's commitment to employees, CIBC will also provide special benefits and full service banking offers to the more than 40,000 employees who work at the Airport.

This announcement follows the launch of the enhanced CIBC Aventura Travel Rewards program earlier this year, which gives CIBC clients the flexibility to redeem their Aventura Points for travel on any airline, access every seat on the plane, and pay for flight taxes and fees with their points, along with numerous other benefits.

CIBC, the first bank in Canada to launch a Mobile Banking App, also recently extended its suite of mobile banking innovations by becoming the first of the major banks to offer eDeposit, a new feature that lets personal and small business clients deposit cheques to their CIBC account simply by taking a photo of the cheque with their mobile device.

"Our partnership with the GTAA allows us to display our full banking innovation and convenience capabilities in the largest and most vibrant retail space in the entire country," added Mr. Forbes. "We look forward to working with the GTAA to ensure its passengers and employees get the very best banking capabilities in a way that enhances their overall travel experience."

About Greater Toronto Airports Authority

The GTAA is the operator of Toronto Pearson International Airport, Canada's biggest airport and one of the largest airports in North America in terms of passenger and air cargo traffic. In 2012, Toronto Pearson handled 35 million passengers and is ranked 2^nd largest in international passenger traffic in North America. The focus of the GTAA continues to be on competitiveness, growing the Airport's status as an international gateway, meeting the needs of our passengers and ensuring the long-term success of the organization, our airline customers and the regional economy. Join Toronto Pearson on Facebook and Twitter (@torontopearson).

About CIBC

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

SOURCE: CIBC